Scilex’s Semnur Pharmaceuticals Set for Strategic Merger with Denali

Scilex Holding Company (SCLX) just unveiled an announcement.

Semnur Pharmaceuticals has entered into a merger agreement with Denali Capital Acquisition Corp., which will result in Semnur becoming a wholly-owned subsidiary of Denali. The deal includes a reorganization where Denali will become a Delaware corporation and change its name to Semnur Pharmaceuticals, Inc. The transaction, approved by the boards of both companies, is structured so that Semnur shareholders will receive new shares in the merged entity, with the business combination expected to close in the first quarter of 2025. This strategic move aims to enhance shareholder value and is subject to customary closing conditions and regulatory approvals.

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